President Trump Talks Trade and WOTUS at AFBF Convention

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He began his remarks to the annual American Farm Bureau Federation convention in Austin by waving a copy of a Farm Journal poll that said he had wide support among farmers and ranchers.

President Donald Trump championed a pair of trade victories at a farm convention Sunday in Austin, Texas.

Trump signed a preliminary trade deal with China last week.

Also last week, the Senate voted overwhelmingly in favor of the U.S. -Mexico-Canada Agreement, a successor to the 1994 North American Free Trade Agreement.

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U.S. Treasury Secretary Steven Mnuchin said Trump's efforts to rebalance U.S. ties with its major trading partners were bearing fruit, and boosting U.S. economic growth.

"Today I'm proud to announce that I am taking yet another step to protect the water rights of American farmers and ranchers", said Trump.

US soybean suppliers will continue to face stiff competition for sales to China from a probable record-large Brazilian crop, which farmers will begin harvesting in the coming weeks.

Trump's speech came two days before the formal opening of the Senate trial to decide whether he should be removed from office following the House vote in December to impeach him - a fact that didn't escape him on Sunday. "It's much bigger and much better than I ever thought we'd get", he said. (The administration still maintains tariffs on $360 billion in Chinese products, and Beijing has imposed retaliatory tariffs on US exports.) In return, China agreed to do more to protect intellectual property and to curb its practice of forcing foreign companies to hand over trade secrets as the price of admission to the Chinese market.

U.S. and China sign 'phase one' deal
The deal is a boon to US President Donald Trump , who faces an impeachment trial and a tough reelection fight later this year. In exchange, China has agreed to buy a lot more American products while making some changes in its own economy.

"China respects us now", Trump said.

The agreement has been approved by Mexico's legislature but has yet to pass through Canada's Parliament. "The most important thing is that it removes all the uncertainty associated with a potential cancellation of the North American Free Trade Agreement".

But tariffs that Mr. Trump imposed on hundreds of billions of dollars in Chinese imports drew backlash from the business community and rattled farmers, who saw retaliatory action from Beijing and plummeting sales that required billions in government payments.

Soybean exports to China plunged to $3 billion from more than $12 billion in 2017 and the Trump administration paid out $28 billion in aid to farmers in the past two years. "That's what I get. That's what I get out of it".

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Implementation Act (HR 5430) was approved in the US Senate by a vote of 89-10, sending it to the President.

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